Malaysian businessman Vincent Tan has confirmed he is looking to sell his 20-per-cent stake in Major League Soccer team LAFC.
Tan is the owner of English Championship club Cardiff City and a major shareholder of Belgian club KV Kortrijk. He also recently reduced his controlling stake in Bosnian champions FK Sarajevo.
LAFC has multiple minority investors – including former LA Lakers star Magic Johnson, actor Will Ferrell, YouTube co-founder Chad Hurley, Alibaba co-founder Joe Tsai and life coach Tony Robbins – and it is possible one of them will seek to increase their stake in the team.
According to Forbes, LAFC is worth $305m (€274m).